The BRICS bank, commonly called the New Development Bank (NDB) officially announced a 3-year plan to completely end reliance on the US dollar. The 3-year de-dollarization initiative will lead to BRICS settling trade in local currencies and not the US dollar. The NDB is finding alternative ways to replace the US dollar from dominating the global financial sector. NDB will provide details to BRICS leaders highlighting the means to diminish transactions made in the US dollar.